Tooru (LSE:TOO.L), the AIM-listed health and wellness brand company, has agreed to sell its wholly owned subsidiary Market Rocket to the unit's management team, which includes Matthew Peck, a former Tooru director.
The nominal consideration is £1, but the deal eliminates approximately £343,000 of external liabilities alongside intercompany balances owed to Tooru.
Market Rocket is an accredited digital agency that helps clients maximise online sales across multiple channels. Tooru's board views Market Rocket as non-core, saying the Group's resources are better focused on building its consumer wellness brands.
For the period to 31 December 2025, the subsidiary generated profit after tax of £87,000 but carried negative net assets of £233,000 once intercompany balances were adjusted for.
Because Peck was a Tooru director within the past 12 months and remains a director of Market Rocket, the sale qualifies as a related party transaction under AIM Rules. The independent directors, having consulted nominated adviser Beaumont Cornish, consider the terms fair and reasonable to shareholders.
News Intelligence what this means for the company
Tooru is divesting Market Rocket, a digital agency subsidiary, to its management team led by former director Matthew Peck for £1, eliminating £343,000 of external liabilities in the process. The unit generated £87,000 profit after tax in 2025 but carried negative net assets of £233,000; Tooru's board views it as non-core and wants to refocus resources on consumer wellness brands.
The disposal removes a loss-making subsidiary (negative net assets despite positive profit) and reduces debt burden, but the £1 sale price and elimination of a profitable operating unit suggest Tooru prioritizes strategic focus over financial return. This aligns with the company's stated pivot toward wellness brands, though the trade-off between shedding liabilities and losing £87,000 annual profit warrants monitoring of whether the refocus delivers offsetting growth.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
